The Charles Schwab Corporation $SCHW Shares Bought by Venture Visionary Partners LLC

Venture Visionary Partners LLC lifted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.1% in the first quarter, HoldingsChannel reports. The fund owned 10,044 shares of the financial services provider’s stock after purchasing an additional 396 shares during the quarter. Venture Visionary Partners LLC’s holdings in Charles Schwab were worth $786,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Credit Agricole S A lifted its stake in shares of Charles Schwab by 39.1% in the 1st quarter. Credit Agricole S A now owns 683,027 shares of the financial services provider’s stock worth $53,467,000 after acquiring an additional 192,002 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Charles Schwab by 15.2% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 123,005 shares of the financial services provider’s stock worth $9,622,000 after acquiring an additional 16,194 shares during the period. Groupama Asset Managment lifted its stake in shares of Charles Schwab by 10.3% in the 1st quarter. Groupama Asset Managment now owns 36,149 shares of the financial services provider’s stock worth $2,813,000 after acquiring an additional 3,368 shares during the period. Berkshire Asset Management LLC PA lifted its stake in shares of Charles Schwab by 2.4% in the 1st quarter. Berkshire Asset Management LLC PA now owns 411,686 shares of the financial services provider’s stock worth $34,734,000 after acquiring an additional 9,604 shares during the period. Finally, Legacy Financial Advisors Inc. lifted its stake in shares of Charles Schwab by 10.1% in the 1st quarter. Legacy Financial Advisors Inc. now owns 7,311 shares of the financial services provider’s stock worth $572,000 after acquiring an additional 673 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,850 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the transaction, the insider owned 15,219 shares in the company, valued at approximately $1,332,727.83. This represents a 15.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,340 shares of company stock worth $24,250,303. 6.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SCHW has been the subject of several recent research reports. JMP Securities increased their target price on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Cowen reissued a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Truist Financial increased their target price on shares of Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Morgan Stanley increased their target price on shares of Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average price target of $99.60.

Charles Schwab Stock Down 0.3%

SCHW stock opened at $95.4380 on Thursday. The Charles Schwab Corporation has a 52-week low of $61.16 and a 52-week high of $99.59. The company’s 50 day simple moving average is $93.54 and its 200-day simple moving average is $85.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $173.24 billion, a P/E ratio of 25.66, a P/E/G ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has approved a stock buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab’s dividend payout ratio is currently 29.03%.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.